File Code: Taxes - Income
Prior Year Introduction As: SB 6/99 - B&T
- Sponsored By:
-
Senators Haines, Ferguson, Hafer, Harris, Hooper, Jacobs,
Kittleman, Roesser, and Schrader
- Entitled:
-
Income Tax - Capital Gains
Allowing a subtraction modification for Maryland individual and
corporate income tax purposes for 50% of the first $50,000 of net
capital gain, as defined and determined under the Internal Revenue
Code, subject to reduction for any amounts excluded for federal income
tax purposes; including the amount of the subtracted capital gain
income in items of tax preference for purposes of the individual
income tax; applying the Act to taxable years beginning after 2001.
Senate Action
- 1/25
- First Reading Budget and Taxation
- Hearing 2/6 at 1:30 p.m.
- 2/18
- Unfavorable Report by Budget and Taxation
House Action
- No Action
- Sponsored by:
- Senator Larry E. Haines, District 5
- Senator Timothy R. Ferguson, District 4
- Senator John J. Hafer, District 1
- Senator Andrew P. Harris, District 9
- Senator J. Robert Hooper, District 35
- Senator Nancy Jacobs, District 34
- Senator Robert H. Kittleman, Senator, District 14
- Senator Jean W. Roesser, District 15
- Senator Sandra Schrader, District 13
- Bill indexed under the following Subjects:
- EXEMPTIONS
- INCOME TAX
- Bill affects the following Statutes:
- Tax - General
- (
10-207 ,
10-222 ,
10-307
)
- Bill Text:
First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
None offered
